Binance Vs. Eightcap - Compare and Choose the Right One


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Overview
Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.	Eightcap is an Australian MT4 & 5 CFD broker founded in 2009 that specialises in currency, commodities, indices, stocks and cryptocurrency trading.
Best For
Avid cryptocurrency traders and investors from intermediate to expert levels Day traders looking for a high liquidity exchange with competitive fees	Traders familiar with MT4 and MT5 platforms High volume traders looking for their specific asset offering combined with their Raw account’s low spreads Cryptocurrency speculators looking for CFDs on major pairs with low spreads
Licenses
Financial Licenses Regulation Unregulated Top-tier Licenses 0 Other Licenses 0 Provided by TheTradingBible.com Learn More	Financial Licenses Regulation Regulated Top-tier Licenses 1 Other Licenses 1 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
None, not required at the moment.	ASIC (Australia) SCB (Bahamas)
The Good
Largest cryptocurrency exchange in the world by liquidity Massive cryptocurrencies selection available (700+) Large amount of financial products in the form of derivatives (Vanilla options, futures, etc) Advanced trading platforms with visual order books at no cost	Low spreads offered in their raw account Wide variety of cryptocurrency pairs with low spreads
The Bad
Interface can be complex to use for beginners The wide selection of products and derivatives can also be intimidating for beginners	Asset offering is low when compared to similar competitors Lacks platform variety as only MT4 & 5 are available All assets are CFDs, there is no ability to buy real shares
Status
Operational	Operational
Recent News
N/A	1 Day
Key Data
⌛ Account Opening Time
1 Day	1 Day
📋 Documents Required
Only to increase withdrawal limits: Valid identity document (Passport, ID Card, etc) Valid proof of residence document (Bank statement, utility bills) All documents must be under the account holder's name.	Valid identity document (Passport, ID Card, etc) Valid proof of residence document (Bank statement, utility bills) All documents must be under the account holder's name.
📍 Year Founded
2017	2009
💳 Minimum Deposit
0	$100
💰 Payment Methods
All supported cryptocurrencies Bank transfers Visa Mastercard	Visa Mastercard Skrill Neteller Paypal Bank Transfer Fasapay POLi Payment CUP (China Union Pay) BPAY
💵 Account Base Currencies
All supported cryptocurrencies.	7 - AUD, CAD, EUR, GBP, NZD, SGD, USD.
🗽 Available to U.S Citizens
Yes (excluding few states)	No
❌ Restricted Countries
None	US, CA, SY, IR, CY.
📊 STP Account
No	No
📊 DMA Account
No	No
📊 ECN Account
No	No
Assets
📚 Available Assets
More than 700+ real cryptocurrencies A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.	CFDs on stocks, commodities, indices, currencies and cryptocurrencies.
📙 Stocks
N/A	600+
📘 Currency Pairs
N/A	45
📗 Commodities
N/A	5
📕 Indices
N/A	15
📔 ETFs
N/A	N/A
💸 Cryptocurrencies
700+	250+
📒 Bonds
N/A	N/A
📓 Options
N/A	N/A
📗 Futures
N/A	N/A
📝 Notes:
Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.	All of Eightcap’s assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A	$1,000 (0.01 Lots)
📉 Minimum ETFs Trade Size
N/A	N/A
📈 Minimum Crypto Trade Size
$10	$1,000 (0.01 Lots)
📉 Minimum FX Trade Size
N/A	$1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A	$1,000 (0.01 Lots)
📉 Minimum Bonds Trade Size
N/A	N/A
📈 Minimum Futures Trade Size
N/A	N/A
📉 Minimum Options Trade Size
N/A	N/A
💪 Retail Leverage
Up to 1:20	Up to 1:30
💪 Professional Leverage
N/A	Up to 1:500
✍ Customisable Leverage
N/A	Yes
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
No	Yes
📱 IOS App
Yes	No
📱 Android App
Yes	No
📺 MetaTrader 4
No	Yes
📺 MetaTrader 5
No	Yes
💻 Web trader
Yes	Yes
💻 TradingView Platform
Yes	No
💻 Proprietary Platform
Yes	No
📊 Multi-chart Tools
Yes	Yes
👬 Copy Trading
No	No
👫 Social Trading
No	No
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
No	Yes
Fees
💰 Inactivity Fee
No	No
💰 Deposit Fees
No	No
💰 Withdrawal Fees
No	No
💰 Commissions
Binance charges a fixed 0.1% trade value fee for spot trades.	Depending on account type: Standard account has no commissions but spreads start from 1 Pip Raw account has a $3.5 commission per lot round turn but spreads start from 0 Pips
Spreads
📈 EUR/USD
N/A	From 0 to 1 Pip
📉 SP500
N/A	From 40 Pips
📈 GOLD
N/A	From 21 Pips
📉 TSLA (Stock CFD)
N/A	N/A
📈 XLK (ETF - CFD)
N/A	N/A
📉 BTC
Dynamic - From $1	Dynamic - From $16
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
No	No
📜 Integrated Newsfeed
No	No
📡 Reuters Feed
No	No